Wednesday, July 6, 2016

Federal Reserve delays future interest rate hike due largely to Brexit fall-out

Federal Reserve officials, already worried about surprisingly weak U.S. job growth, expressed concerns at their most recent meeting last month over the potential economic and financial market consequences of a British vote to leave the European Union.  Consequently, they decided on June 15 to hold their benchmark interest rate steady at between 0.25% and 0.5%.

They also said they wanted to see more data to determine if May's low job growth of 38,000 was an exception or a sign of a more pronounced labor market slowdown.

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